08 August, 2007

Bulls are Back in Town

Markets scoring their 3rd straight positive day means a 3-peat for the Bulls on Wall Street. No, that wasn't Michael Jordan on the floor of the exchanges this week but with the positive start of the week the major indices - Dow Jones, Nasdaq, S&P and TSX - are all up around 3%.

Murky waters still lay ahead as the sub-prime scares are by no means over, but with the Fed's interest rate stance providing a little relief to those fears, investors were buying for the time being. Couple that with a slight drop in oil and a few key positive earnings reports, specifically Cisco (CSCO) yesterday, which powered the stock to a 52-week high, and you've got yourself 3 straight sessions in the green.

No comments: